637 E Colorado Drive

Description

Rare income-producing property now available in Bayfield. Excellent highway frontage and access from the busy US Highway 160 corridor extending between Durango and Pagosa Springs. The 5,900 square foot improvements provide flexible space options consisting of a full-service restaurant/bar (2,500 SF), upper-level two-bedroom apartment (850 SF), (3) main level residential/commercial units (850, 650 & 650 SF) and additional space currently utilized for storage (400 SF). Units are separately metered for natural gas/electric/sewer and contain ADA compliant restrooms. Attractive building exterior consisting of stucco and corrugated metal panels with an open dining patio along the front elevation. The 0.43-acre site is fully concrete paved. The popular Chavolos Mexican Restaurant is a consistent, long-standing tenant that has occupied the property for 15-years (additional locations in Pagosa Springs, Cortez, Bayfield, Mancos and Del Norte). As evidenced by recent trends, future growth for Durango will continue in an eastward expanse along US Highway 160. Given the population increases for Durango and Bayfield of 13% and 15%, respectively since 2010, this property is well-positioned to capitalize on a continually expanding market and rental rate upside potential. Financial information available upon request. Call to arrange for a qualified showing. Co-brokers welcome. Note: Financial verification and Non Disclosure Agreement required to view financials and/or schedule a showing.